Businesses continue turning to robots to solve their labor shortage woes and in turn, the machines are becoming more and more advanced. Warehouse robots have finally reached their holy grail: they can now pick up and sort things as well as human hands. Robotic arms at Amazon.com Inc (NASDAQ:AMZN/" target="_blank" rel="noopener">NASDAQ:AMZN) can pick and sort bulky items like headphones or plush toys before they are boxed. As one of the world’s biggest retailers with high turnover and promises to deliver packages quickly, it’s no surprise that it currently has over 520,000 robotic drive units in facilities around the world. FedEx Corp. (NYSE:FDX/" target="_blank" rel="noopener">NYSE:FDX) is also using AI robotic automation to help improve the safety and efficiency of its package handling operations globally. At the same time, autonomous security robots (ASRs) are being utilized to combat crime and supplement labor shortages in the security space. Recently, Securitas and Ally Financial teamed up to use robots developed by Knightscope, Inc. (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP). At the same time, companies like Leidos Holdings (NYSE:LDOS/" target="_blank" rel="noopener">NYSE:LDOS) and Palantir Technologies Inc. (NYSE:PLTR/" target="_blank" rel="noopener">NYSE:PLTR) are developing AI and robotics solutions.
The volume of crimes being committed today has led to growing demand to employ robots equipped with high-definition cameras with streaming and recording capabilities to surveil public and private areas to deter, intervene, capture and prosecute offenders. Robots are not intended to replace human security personnel, but to work together with police and security guards to combat crime.
Knightscope, Inc. (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP) is a Silicon Valley-based company that designs and builds Autonomous Security Robots (ASRs) that provide 24/7 security anywhere people live, work, visit, and study in the US. Knightscope has combined four highly relevant technologies (autonomous driving, robotic, electric vehicles and artificial intelligence) to deliver comprehensive systems that effectively provide customers with extra eyes, ears and voices on the ground.
Knightscope just released a new video titled “The Rise of the Robots — Already Here, More Are Coming” outlining the company’s recent highlights. In 2021, the company generated $3.4 million in revenue and completed the acquisition of CASE Emergency Systems, which generated $5.4 million last year for a combined $8.8 million run rate. According to Knightscope’s Chair and CEO William Santana Li, the company expects a revenue run rate between $12 million to $14 million, delivering on the accelerated growth.
To date, Knightscope’s client base includes the government, public institutions and commercial businesses including Fortune 1000 companies, entertainment venues, hospitals, school campuses, storage facilities, logistics, manufacturing plants and more. The company makes five different models of its robots, five stationary and two mobile units designed for different environments (indoor, outdoor and a rough terrain model under development).
On December 13, Knightscope announced the largest single contract in the company’s history alongside two new contracts from cities in New York and Georgia. The contracts consist of 12 K5 Autonomous Security Robots (ASRs), two K1 Blue Light Towers and two K1 Call Boxes.
New York and Georgia have elected to expand their communication capabilities with Knightscope K1 Blue Light Emergency Towers and Emergency Call Boxes using cellular and satellite communications with solar power to provide additional safety in remote locations. These newer, more advanced wireless systems will save end users money on both infrastructure and hardware costs, while improving reliability on a modern communication network.
Just one week earlier, Knightscope announced three new contracts totaling 16 new machines. The contracts call for 13 new K1 Blue Light Towers and three K1 Retrofit Kits. Two of the new clients are colleges in Georgia and Texas, indicating that education is a crucial growth area for the company.
The K1 Blue Light Emergency Towers and emergency communication systems from Knightscope Retrofit Kits combine cellular and satellite communications with solar power to stop bad things from happening in remote areas. Colleges will save money on infrastructure and hardware costs with these newer, more advanced wireless systems. They will also make the network more reliable.
Autonomous Security Robots and Blue Light Emergency Communications are critical to providing a completely secure environment for giving and receiving education.
For more information about Knightscope, Inc. (NASDAQ:KSCP/" target="_blank" rel="noopener">NASDAQ:KSCP), click here.
Companies Are Making Strategic Partnerships to Improve Security
In November, Amazon.com, Inc. (NASDAQ:AMZN/" target="_blank" rel="noopener">NASDAQ:AMZN) announced that it is growing its fleet of robots in warehouses in order to meet increased demand for expedited delivery. The news comes at a time when the company is facing pressure to cut costs. Amazon, which has been utilizing robots since it acquired Kiva Systems for $775 million in 2012, just launched Sparrow, its new intelligent robotic system that streamlines the fulfillment process by moving individual products before being packaged. By leveraging computer vision and artificial intelligence (AI), Sparrow can recognize and handle millions of items.
In August, FedEx Corp. (NYSE:FDX/" target="_blank" rel="noopener">NYSE:FDX) entered into an agreement with Berkshire Grey for new development activities that will provide broader AI robotic automation capabilities to help improve the safety and efficiency of FedEx package handling operations globally. Through the partnership, FedEx will purchase $200 million worth of robots for warehouses from Berkshire Grey. The two companies have already been working together to deploy Berkshire’s Robotic Product Sortation and Identification (RPSi) systems, which robotically sort small packages. In addition to the recent installations at eight sorting facilities, FedEx Ground plans to use RPSi systems at additional facilities in the network over the next 12 months.
Through demonstrations during the United States Army’s Project Convergence 22 (PC22) experimentation exercises, Leidos Holdings (NYSE:LDOS/" target="_blank" rel="noopener">NYSE:LDOS) and Microsoft successfully demonstrated a critical step in the realization of Joint All-Domain Command and Control (JADC2). The demonstration used Leidos Edge to Cloud (E2C) technology in conjunction with Microsoft Azure Cloud infrastructure to connect disparate legacy and new systems. The collaborative solution enables the rapid deployment of advanced software, applications, and security solutions in difficult operational environments. Leidos and Microsoft continue to collaborate on bringing warfighting capabilities to both strategic and tactical levels, developing architectures that enable rapid software and security updates across cloud, on-premise, and tactical networks—all with the goal of achieving Multi-Domain Operations at speed and scale.
On December 9, Palantir Technologies Inc. (NYSE:PLTR/" target="_blank" rel="noopener">NYSE:PLTR), announced a strategic partnership with Crisis24, a company owned by GardaWorld, to use AI to change security and risk management. This multimillion-dollar long-term strategic partnership will help to change the way security and risk management are done by using important information to give clients new solutions, data-driven insights for making decisions that are focused on results, and solutions that help them deal with their daily problems. In a changing, interconnected world, it’s important to be able to collect and understand information about global events if you want to reduce risks. By using Crisis24’s unmatched expertise and depth of knowledge in crisis management and intelligence, Palantir’s Foundry operating system will let users find important trends and give a full analysis of new risks around the world. They will also be able to create new services for the public and private sectors.
Knightscope is an advanced security technology company building fully autonomous security robots with a focus on making the United States the safest country in the world.
Featured Image Depositphotos @ Depositphotos_297050986_xl-2015
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Knightscope, Inc.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Knightscope, Inc.’s industry; (b) market opportunity; (c) Knightscope, Inc.’s business plans and strategies; (d) services that Knightscope, Inc. intends to offer; (e) Knightscope, Inc.’s milestone projections and targets; (f) Knightscope, Inc.’s expectations regarding receipt of approval for regulatory applications; (g) Knightscope, Inc.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Knightscope, Inc.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Knightscope, Inc.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Knightscope, Inc.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Knightscope, Inc.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Knightscope, Inc.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Knightscope, Inc. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Knightscope, Inc.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Knightscope, Inc.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Knightscope, Inc.’s business operations (e) Knightscope, Inc. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, Knightscope, Inc. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Knightscope, Inc. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Knightscope, Inc. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Knightscope, Inc. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Knightscope, Inc. or such entities and are not necessarily indicative of future performance of Knightscope, Inc. or such entities.
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